'Fast Money' Recap: What's Next?

The trading panel said trimming positions isn't a bad idea, but that the average investor shouldn't move to all cash if it's for a month or less.

Estee Lauder ( EL) was the first stock on the show's "Pops & Drops" segment. Finerman said it's a great stock and always performs well.

Ford ( F) dropped 3% on Thursday. Kelly said the stock got hit on a bad market day and that there should be support near $16.

Grasso thinks Micron ( MU) will go higher and he is sticking with the name.

Berkshire Hathaway ( BRK.B) dropped 1.5%. Hickey said the firm's stock portfolio has underperformed the S&P 500 and is likely responsible for some of the selling pressure.

Jos. A. Bank Clothiers ( JOSB) missed earnings. Finerman said that she loves the stock but the selloff gives the activist investors a stronger hand.

On the show's "Street Fight" segment, Hickey defended the homebuilders, saying the negativity is too high. He added that the situation is a "win-win" because although rising interest rates will hurt housing demand, it also means the economy is improving, meaning consumers can afford housing. If the economy doesn't improve, the Federal Reserve will continue quantitative easing and rates will stay low.

Kelly took the bear side and said that sellers are selling for a reason: They feel the cash is more valuable than the asset. He added that rising interest will continue to hurt demand and that's reflective in the plunging mortgage applications. He added that traders could short on a rip higher.

Gold and silver saw strong pops to the upside on Thursday and Kelly said he thinks we'll get a better idea for how the trend will develop for metals over the next couple of days. He added that silver is much more volatile and that it's the best option for traders.

Finerman said BlackBerry ( BBRY) seems desperate at this point and wouldn't be surprised if there was a "takeunder," or an offer at a price less than its current market price.

Grasso said he's not a huge fan of the solar sector, and would take a pass on First Solar ( FSLR) and go with SolarCity ( SCTY) instead.

Kelly said he is still short Treasury notes and that the long ProShares UltraShort 20+ Year Treasury ETF ( TBT) trade can continue to work.

Hickey said a down dollar is good for Caterpillar ( CAT), but he remains short the stock.

For their final trades, Finerman took a long position in SPDR S&P MidCap 400 ETF ( MDY) via short puts and Grasso said to buy D.R. Horton ( DHI). Hickey was a buyer of Generac Holdings ( GNRC) and Kelly said he was a seller of Freeport-McMoRan ( FCX).

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.